European shares extend rally on ECB boost

PARIS Jan 23 (Reuters) - European shares rose in early
trade on Friday, gaining ground for the seventh consecutive
session, as investors cheered the European Central Bank's
decision to buy government bonds.

At 0806 GMT, the FTSEurofirst 300 index of top
European shares was up 0.8 percent at 1,464.69 points, a
seven-year high.

Cyclical stocks such as carmakers featured among the biggest
gainers again, with BMW up 2.3 percent and PSA Peugeot
Citroen up 2.2 percent.

Renault Nissan Chief Executive Carlos
Ghosn upgraded his European car market growth forecast after the
ECB unveiled its QE programme. Ghosn told participants at the
Davos World Economic Forum that he now expects Europe's car
market to grow by at least 2 percent in 2015, against 1-2
percent previously.